Genband bids on Nortel’s carrier VOIP business
Enters into sale agreements with GENBAND, Inc. for a purchase price of US$282 million, subject to balance sheet and other adjustments currently estimated at approximately US$100 million
Sale of business is best path forward for the future of Nortel’s Carrier VoIP and Application Solutions customers, employees and business
Agreements include the planned sale of substantially all assets within the Carrier VoIP and Application Solutions business globally
Nortel(1) Networks Corporation (OTCBB: NRTLQ) today announced that it, its principal operating subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries, including Nortel Networks Inc. and Nortel Networks UK Limited (in administration), have entered into a “stalking horse” asset sale agreement with GENBAND, Inc. (GENBAND) for the sale of substantially all of the assets of its North America, Caribbean and Latin America (CALA) and Asia Carrier VoIP and Application Solutions (CVAS) business, and an asset more
